Shareholders of Meta, Mark Zuckerberg’s company that manages Facebook and Instagram, sent a letter to the company to seriously consider including bitcoin (BTC) in its corporate treasury. According to the document shared today on social networks, the company with more than 250 billion dollars in total assets should change them “to an asset that has increased 124% in the last year.”
Tim Kotzman shared on the social network a letter which he claims to have received directly from Ethan Peck, an employee of the National Center for Public Policy Research (the same one who presented a similar proposal to Microsoft), who managed this request to Meta on behalf of his family.
In the document, the shareholders point out that since Meta’s corporate reserve is in cash and marketable securities, including US government bonds, the company has a duty to explore other possibilities to replace part of these assets. This taking into account that 28% of these total funds are losing real value for shareholders.
They add that Bitcoin, due to its verifiable fixed supply, presents itself as an inflation-resistant store of valuesignificantly outperforming bonds in performance. The shareholders then specify that since December 20, 2024, the price of bitcoin has increased by 124% compared to the previous year, and in the last five years, its value has grown by 1265%.
Also highlighted in the letter is the implicit support of figures within Meta towards bitcoin, mentioning that founder and CEO Mark Zuckerberg named his goats “Bitcoin” and “Max.” Additionally, it is mentioned that BlackRock, Meta’s second largest institutional shareholder, has suggested that a 2% allocation in bitcoins is reasonable.
“Shareholders request that the Audit Committee conduct an evaluation to determine whether adding Bitcoin to the Company’s treasury is in the best interests of shareholders,” the document reads at the end.
If the proposal is approved, the company would designate at least $1.6 billion to buy bitcoin, as he highlighted it a journalist from Bitcoin Magazine. “Meta should evaluate the benefits of exchanging even just a small percentage of its cash and bonds for Bitcoin,” is the request submitted to the company.
